London footwear company steps into new markets with five-figure funding
A London footwear wholesaler and online retailer has received five-figure funding to help diversify its business.
Cocorose London, which specialises in footwear, has secured the Bounce Back Loan through HSBC UK as it diversifies into face coverings, due to a surge in demand driven by Covid-19.
The Bounce Back Loan and wider support from HSBC UK has given the company the opportunity to test and launch its new face coverings line quickly and enabled the organisation to adapt to the shift in demand due to the pandemic.
Gareth Austin-Jones, director at Cocorose, said: “The loan provided us with the opportunity to develop and test a range of premium face masks, as well as developing new accessories.
“Without the financial support of HSBC UK and the guidance from our relationship manager, David Subba, we wouldn’t have been able to expand into this market as swiftly and develop these additional product lines.
“We are also donating a percentage of each sale from the new masks to Honeypot Children’s Charity, raising funds to help their incredible work in supporting young carers.
“This is a cause that has become more important than ever during the pandemic, as they help with the mental wellbeing of these amazing children with responsibilities far beyond their years.”
David Subba, relationship manager at North London Business Banking Centre for HSBC UK, added: “We were delighted to be able to support the business in realising its ambition of moving into the accessories market.
“The Cocorose team worked hard to meet the sharp increase in customer demand and we look forward to continue working with them to support their future growth strategy.”
Cocorose London has raised over £19k to date for The Honeypot Children’s Charity through the sales of its face coverings and a £20 donation from the sale of each of its new Rainbow trainer design.
The company is continuing its partnership with the charity this year by working on new ranges to further promote messages of positivity and togetherness.
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